KARACHI: The Pakistan Stock Exchange (PSX) witnessed a strong and positive start and closure as the benchmark KSE-100 Index surged by 761 points, reaching the level of 167,004 points during early trade.
On the previous trading day, the index had closed at 166,242 points, indicating a significant recovery in investor sentiment. Market analysts attribute the upward movement to renewed confidence following Pakistan’s recent staff-level agreement with the International Monetary Fund (IMF), which is expected to support economic stability and boost investor optimism.
Meanwhile, in the interbank foreign exchange market, the US dollar recorded a slight depreciation of 7 paisas, slipping from Rs 281.07 to Rs 281.00 against the Pakistani rupee. The strengthening of the local currency reflects improved market confidence and expectations of increased foreign inflows in the coming days.
Market experts anticipate that if this positive momentum continues, the PSX could maintain a bullish trend throughout the week, driven by favorable economic indicators, improved liquidity, and easing concerns over the macroeconomic outlook.
